Tata Motors, Honda and Renault plan to boost automobile costs in early 2022 to offset rising enter prices – Know-how Information, Firstpost

With enter prices persevering with to rise, automakers like Tata Motors, Honda and Renault want to enhance automobile costs from January to offset the impression. Already, automobile market chief Maruti Suzuki and luxurious automakers Audi and Mercedes-Benz have introduced automobile value will increase beginning subsequent month.

Whereas Maruti mentioned the worth hike slated for January 2022 will range by mannequin, Mercedes-Benz mentioned its hike will apply to some fashions by as much as 2% as a result of characteristic enhancements and elevated value. enter prices. However, Audi has mentioned that its value enhance from January 1, 2022 may attain 3% throughout its vary.

A considerable enhance within the costs of commodities like metal, aluminum, copper, plastics and valuable metals over the previous yr has had an impression on automobile costs. Picture: Tata Engines

When contacted, Shailesh Chandra, President of Tata Motors (passenger automobile firm) mentioned, “The costs of commodities, uncooked supplies and different inputs proceed to rise. A value enhance applicable to at the least partially offset this enhance in prices appears inevitable within the near-short time period. ”The corporate sells fashions such because the Punch, Nexon and Harrier within the home market.

Honda Automobiles India has additionally mentioned it’s contemplating a value hike within the close to future. “There’s a extreme impression on the price of inputs because of the enhance within the costs of uncooked supplies. We’re nonetheless finding out how a lot might be absorbed,” a spokesperson for the corporate famous. The maker of vehicles just like the Metropolis and Amaze final raised automobile costs in August this yr.

Renault has mentioned additionally it is contemplating a “substantial” value enhance throughout its vary of autos from January. The French firm sells fashions such because the Kwid, Triber and Kiger within the Indian market.
Companies have been compelled to boost costs, with the costs of commodities like metal, aluminum, copper, plastics and valuable metals rising considerably over the previous yr.

As well as, transportation prices have elevated in current occasions, affecting the overall value buildings of authentic gear producers (OEMs).

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